Wednesday, August 01, 2007
Headline: Buyers Are Finding Co-Op Values in Upper Manhattan
When did this article appear in the New York Times? Try 1983. Choice snippets: "PRICES, with upgraded kitchens and baths and other improvements, are in the middle to high $30,000 range for one-bedrooms, $40,000 to $50,000 for two-bedrooms and $80,000 to $90,000 for six-and-a-half-room duplexes." (Basically add on a zero to each of those prices and you're about where things stand today.) "Another recent co-op buyer was Celenia Olmo, an executive secretary who sold a house in Brooklyn. She said it took her a half hour to commute to the World Trade Center on the IND A train. ''I was looking to rent, but the rents in Manhattan were out of sight,' she said. Calculating that she would be paying in rent within a few years what it would cost her to buy, she bought a one-bedroom apartment in Park Terrace East for about $29,000."